AMR's creditors OK US Airways merger plan

|By:, SA News Editor

AMR's (AAMRQ.PK) creditors have overwhelmingly approved the airline's plan to merge with US Airways (LCC) and exit bankruptcy.

The deal now needs court authorization, as well as the backing of the U.S. Justice Department, which is analyzing the antitrust implications, and that of the EU.

Under the merger, AMR's creditors, staff and shareholders will receive 72% of the combined company, while US's investors will get 28%.